Any experts out there with a view to todays RNS on Algerian gas find ?
Looks good to me but sp is down
Thanks in advance nr

'a 4 bottom just hit which is considered a major reversal pattern'------Have to admit I've not heard that before, are you sure that's not bum information micky468, although the sp has improved.
2517

a 4-bottom is related to someone very fat who has gone far beyond the 2-chin stage!

What you mean cynic like a Money Maker..... cynic the only reason this SP as not gone north is ? ...well this man can explain it better...........

The reason that internalization is such a contentious topic is the obvious conflicts of interest inherent in the practice. As a broker, the firm has a fiduciary responsibility to obtain the best possible execution for its clients. However, as a dealer trading against the firm's own clients, there is strong incentive to give clients the worst prices possible while conforming to existing - and rather vague - rules on execution quality.

2517/....George if we break the 15p nick line on the way up this time round you will not have time to hit the sell button before it hit 25p

Dream on!

If one ignores the little recent spike to 16p the SP is ranging between 13.5p-15p whilst in a mini downtrend from 19p which is actually very bearish. Take into consideration that the uptrend from Mar 09 has been broken and the fact it's been making lower highs since 19p, the stock is a SELL, only a matter of time before 13.5p is broken.

Mind you, small AIM stocks are buggers for not following TA :)

Unless, of course, that spurious rumour from FT/Alphaville of a bid approach comes true imminently. ;o)

If a bid is coming soon nobody told Iberdrola.

chuckle, chuckle!

Iberdrola have bigger fish to fry.

so why did they buy 20%+ of PCI in the first place, have they had second thoughts after recent drilling results or did they just want to take their profit before it evaporated.

Or maybe they think a bid approach is more likely to be an equity deal rather than cash.

Who knows what Iberdrola were up to at all. PCI now have 75% of Isarene again and it's all to play for.

This is your baby Cyril, haven't seen you on here for a while, are you still in?

He'll be back and he wont be alone in that pursuit.

ptholden the TA was spot on (post 811), where to from here?
2517

doesn't look good ... down to <10p?

What a buying opportunity here. INW-2 soon too.

Petroceltic International plc
Successful well test at well INW-2 on the Issaouane North West structure,
Isarene Block, Algeria

Petroceltic International plc ("Petroceltic" or "the Company"), the upstream oil
and gas exploration and production company focused on North Africa, and the
Mediterranean, in association with its partner Sonatrach, the Algerian National
Oil & Gas Company is pleased to announce that well testing of the Objective
Devonian F2 formation at well INW-2 has been successful, with a gas well test
rate of 16.7 million standard cubic feet per day ("MMscf/d") (19,740 cubic
metres/hour) with a flowing wellhead pressure of 347.5 PSIG on a 96/64"' choke
setting. This flow rate was achieved without the benefit of fracture
stimulation.

Well INW-2 is the 5th and final well to be drilled on the Isarene permit (Blocks
228 & 229a), in the Illizi basin during the current drilling campaign. The well
was drilled by Petroceltic (75% interest, Operator), in association with the
Algerian oil & gas company Sonatrach (25% Interest), to a total depth of 2124m
in January 2010, targeting the Devonian F2 sands, with the Ordovician formation
as a secondary objective. After the perforation of a 6 metre interval in the
Devonian formation, the following flow rates and Flowing Well Head Pressures
("FWHP") were recorded.

cyril